What is Ethereum and how come it's shares have sky rocketed?
Discussion
bigweb said:
I know I said I'm in Eth long term but I can't help be worried about this reasonabley quick slide into what looks like oblivion.
It's a bloodbath right now. Not really unexpected with the BTC fork coming up in few weeks. I'm into negative territory but have been doing some dollar cost averaging on the way down buying more. I thought I estimated the bottom several times now. I'm not trading anymore until after the fork. I have FIAT setting in an exchange so will hopefully be able to improve my position once the dust settles. I try to look at falling prices as an opportunity to increase my crypto stack but it's hard not to let your emotions control your decision making when you're exposed.
Usually the money stays in crypto but it is clear it is flowing out into FIAT. Tether usually goes up but not happened, and i think the ICOs are cashing out, using btc as a cover.
i will be taking a risk and buying in a few k closer to end of month, as i like risk and don't need money for a year. the past months have given me a good idea of what looks good.
i will be taking a risk and buying in a few k closer to end of month, as i like risk and don't need money for a year. the past months have given me a good idea of what looks good.
I agree on the opportunity, not your reasoning. I think end Jul may well be a great buying opportunity as all weak hands will be thoroughly shaken out. Probably true for ALTs as well as BTC but it's BTC I'm focusing on with this comment. The price link between BTC and ALTs is much stronger than the smaller differentials between them all.
I expect the hard fork to be a non event, a bit like the y2k FUD scare. I don't see the proposed changes reaching the required votes. In any event, something will get decided and we'll all move on to the next proposal debate.
I expect the hard fork to be a non event, a bit like the y2k FUD scare. I don't see the proposed changes reaching the required votes. In any event, something will get decided and we'll all move on to the next proposal debate.
i am looking to buy 1 btc, that was my 'dream' 6 months ago when i took an interest. hopefully it hits 1k gdp and i will be happy to buy. o.k it wont go 10x in a few months but is still stable and the most used coin out there, maybe not so much in usa/europe but japan loves it and the use at the japan Olympics makes a longer term coin for me. i have some other coins though which even though lost a few hundred pounds are longer term investments that i can lose if it goes bad. if btc splits then i have 2 coins so win win.
the backing btc has, new,old money is still the king, the ico thing has put me off eth, it just seems like scam after scam pumping and pulling money out of the crypto world by scam artists, and suckers lining up to be suckered. i have invested in an ether alternative, might be a scam but looks interesting.
the backing btc has, new,old money is still the king, the ico thing has put me off eth, it just seems like scam after scam pumping and pulling money out of the crypto world by scam artists, and suckers lining up to be suckered. i have invested in an ether alternative, might be a scam but looks interesting.
I hope this isn't a crazy question but I'm sorry it's on i just have to ask. When the bitcoin fork happens, and I have some fiat st in an account waiting to pounce. Is it going to be possible to buy the wrong fork of coin?
I'm not going to pretend I understand it all so forgive my silly question if it is in fact silly.
I'm not going to pretend I understand it all so forgive my silly question if it is in fact silly.
rufusgti said:
I hope this isn't a crazy question but I'm sorry it's on i just have to ask. When the bitcoin fork happens, and I have some fiat st in an account waiting to pounce. Is it going to be possible to buy the wrong fork of coin?
I'm not going to pretend I understand it all so forgive my silly question if it is in fact silly.
First of all, it's definitely an if not a whenI'm not going to pretend I understand it all so forgive my silly question if it is in fact silly.
Secondly, it's technically possible if your exchange is misleading you or has hedged their bets entirely with the losing fork (I don't know of any planning that). Buy your BTC before Aug 1 or after the dust has settled (probably later on Aug 1 but read up and make sure). And don't keep substantial amounts of cash at the exchange, whether it's fiat or crypto.
Henrico said:
Did you guys see that Twitter post by John McAfee where he bet that BTC would be $500k by MY 2020 or he'd eat his own dick? Anyone up for a wager??
I did. Barking. As is he. At that price level it would've nudged past gold more or less. I do believe that's conceivable within a few decades. Three years? Well, if it does get there it'll be followed by a truly staggering collapse that'll last for what feels like forever.
looks like some multi sig ethereum wallets 'hacked' 32 million usd equiv taken, if true not good (i had the bloody coins as well)
https://mobile.twitter.com/maraoz/status/887753444...
well ethereum can f
k right off now, not lost a lot but this is ridiculous.
https://etherscan.io/address/0xb3764761e297d6f121e...
well 32 million of ether being dumped on the market for btc soon.....
could have been a lot worse but white hackers stepped in and drained accounts.
https://mobile.twitter.com/maraoz/status/887753444...
well ethereum can f
k right off now, not lost a lot but this is ridiculous.https://etherscan.io/address/0xb3764761e297d6f121e...
well 32 million of ether being dumped on the market for btc soon.....
could have been a lot worse but white hackers stepped in and drained accounts.
Edited by The Spruce goose on Wednesday 19th July 22:13
The Spruce goose said:
looks like some multi sig ethereum wallets 'hacked' 32 million usd equiv taken, if true not good
Yes it is true. Ethereum smart contracts are not so smart after all. I have pointed out before that Ethereum is vulnerable. The wallets in question were created using Ethereum's smart contracts. However, the kit was very poorly tested. And so it failed. This is extremely common in the bleeding edge software space.If any software needs to be secure and properly tested it surely is digital currency. Almost all alt coins have one or more of: large attack surfaces, poorly tested coin software, poorly tested walleting and poor exchange infrastructure. Beta (even alpha) products are released to the market and speculating sheep flock to the new pasture without really understanding what it contains.
It's why I am very much in support of Bitcoin's slow, stable and secure development path and its democratic construct.
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